Mon, 11 Sep 2000

IBRA raises Rp 163.81b

JAKARTA (JP): The Indonesian Bank Restructuring Agency (IBRA) raised Rp 163.81 billion (US$19.74 million) from auctioning its properties in August, an official said on Saturday.

Godlip Pasaribu, head of administration of IBRA's Asset Management Credit, said properties in Medan, Bali, Bandung, Balikpapan, Surabaya, Pontianak, Malang, Semarang and Manado have been auctioned.

The properties were assets of commercial banks which were taken over by the government because of the banks' huge debts.

To date, IBRA has raised Rp 789.27 billion in five property auctions since the start of the year. We are well within reach of the Rp 1 trillion target for this year, Godlip said.

The next auctions, starting Sept. 14, will be held in Jakarta, Medan, Makassar, Mataram, Lampung and Semarang. (02)